News
Philippines contemplating $2 bln LNG import terminal
A $2 billion LNG import terminal is on the cards for the Philippines is are looking to secure enough gas supply to replace the depleting domestic gas reserves.
Pemex to speed up farm-out strategy while striving for larger oil output
Mexican state-owned oil company Pemex plans to accelerate the establishment of farm-out arrangements and associations in a push to increase crude oil output and bring reserves online. In words of the company, this mechanism will allow it to increase investments, enhance competitiveness and optimize
GeoPartners in JV with Petroguin
Bissau Exploration Company has signed a joint venture participation agreement with the national oil company Petroguin for petroleum exploration, development and production in the area of Block 4B, offshore Guinea-Bissau. Bissau Exploration is a wholly owned subsidiary of GeoPartners Limited of the U
EIA: Sabine Pass ships three LNG cargoes, Henry Hub slightly down
Cheniere’s Sabine Pass liquefaction terminal in Louisiana, currently the only such a facility to ship U.S. shale gas overseas, has exported three cargoes of the fuel in the week ending June 7, according to the Energy Information Administration. Three vessels with a total LNG-carrying capacity of 11.
Gabadi, AJH open LNG joint venture in China
Spanish company Gabadi and its Chinese partner, AojiHeng Offshore Engineering (AJH) have opened their joint venture, Gabadi Marine Engineering in Pudong, Shanghai.
UK Detains Three Foreign Flagged Ships in May
Three foreign flagged ships were detained in UK ports during May 2017 after they failed Port State Control (PSC) inspection, the country’s Maritime and Coastguard Agency (MCA) said. The vessels in question are Ocean Nova, Gann and Ana M. The Bahamas-flagged passenger ship Ocean Nova was arrested at
Oil prices resume slide as supply glut prevails
By Christopher Johnson LONDON (Reuters) – Oil prices resumed a downtrend on Friday following steep falls earlier in the week, pressured by widespread evidence of a fuel glut despite efforts led by OPEC to tighten the market. Brent crude oil was down 20 cents at $47.66 a barrel by 0820 GMT, around 12
T&E: US Pull-Out from Paris Accord Could Hinder Progress in Shipping
Reacting to US President Donald Trump’s decision to withdraw the US from the Paris climate accord, the EU and China have agreed to cooperate to ensure shipping plays its part in tackling climate change. However, there is a worrying sentiment within the shipping industry that the US withdrawal will s
Edison says in talks to sell its stake in Italy’s Adriatic LNG
Italian utility Edison confirmed Friday it was in discussions to sell its stake in the Adriatic LNG terminal located offshore Italy, in the northern Adriatic Sea. The Italian company owned by France’s EDF responded to recent media reports saying that it was in talks to sell its stake in Adriatic LNG
Japan’s spot LNG prices flat in May
The average price of spot LNG for delivery into Japan that was contracted in May 2017 was at $5.7 per mmBtu, remaining flat in comparison to the previous month.
Three companies book capacity at Lithuanian LNG terminal
Klaipedos Nafta, the operator of Lithuania’s first LNG import terminal, signed contracts with three terminal users that have allocated part of the capacity before the start of new gas year.
Dynagas LNG Partners’ profit slides
Dynagas LNG Partners, a partnership formed by Dynagas, reported adjusted net income of $12.9 million for the first quarter, 24.6 percent down on the corresponding quarter in 2017.
Nigeria: Lekoil gains consent to transfer offshore license stake
The Minister of Petroleum Resources of Nigeria has granted Lekoil consent to complete the transfer of the original 17.14 percent participating interest in OPL 310, to its subsidiary Mayfair Assets and Trust Limited. To remind, Mayfair farmed into Afren Oil & Gas’ interest in OPL 310, which contains
Qatar Gulf row roils LNG market, Shell tanker diverted
By Oleg Vukmanovic LONDON (Reuters) – The escalating diplomatic conflict between Qatar and several of its Middle East neighbours has roiled the liquefied natural gas trade, causing at least one tanker to change course and UK gas prices to spike. Saudi Arabia, the United Arab Emirates, Egypt and othe